TAIL vs VOO
TAIL vs VOO
Cambria Tail Risk ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | TAIL | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.59% | 0.03% | |
| AUM | $149M | $979.0B | |
| Dividend Yield | 2.93% | 1.09% | |
| Holdings | 25 | 509 | |
| YTD Return | -9.67% | +13.80% | |
| 1Y Return | -11.58% | +23.71% | |
| 3Y Return (annualized) | -5.84% | +21.50% | |
| 5Y Return (annualized) | -9.19% | +13.44% | |
| Volatility (annualized) | 11.1% | 14.1% | |
| Max Drawdown | -53.5% | -34.3% | |
| Fund Family | Cambria Investment Management | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Apr 5, 2017 | Sep 7, 2010 |
TAIL vs VOO Performance
Cambria Tail Risk ETF (TAIL) is a ETF from Cambria Investment Management and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year TAIL returned -11.58% while VOO returned +23.71%. Year to date, TAIL is down 9.67% versus a gain of 13.80% for VOO.
Over three years, TAIL compounded at -5.84% per year against +21.50% for VOO; over five years the annualized figures are -9.19% and +13.44% respectively. Across the full 9-year window we track, VOO has the edge at +13.58% annualized vs -7.45%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.1% compared with 11.1% for TAIL. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -53.5% for TAIL and -34.3% for VOO. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at -0.70. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
TAIL charges 0.59% per year while VOO charges 0.03%. On a $10,000 position that is $59 vs $3 annually, a gap of $56 per year that compounds over a long holding period. On income, TAIL currently yields 2.93% against 1.09% for VOO.
Holdings Overlap
TAIL and VOO share 0 holdings out of 507 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, TAIL or VOO?
TAIL has an expense ratio of 0.59% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $56 per year of difference.
Which performed better, TAIL or VOO?
Over the past year TAIL returned -11.58% vs +23.71% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (9 years), TAIL annualized -7.45% vs +13.58% for VOO. Past performance does not guarantee future results.
Which is riskier, TAIL or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 11.1% for TAIL. Worst drawdown: TAIL -53.5% vs VOO -34.3%.
Should I hold both TAIL and VOO?
TAIL and VOO have a monthly-return correlation of -0.70, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between TAIL and VOO?
TAIL and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 507 unique securities.
Which pays a higher dividend, TAIL or VOO?
TAIL yields 2.93% while VOO yields 1.09%, so TAIL currently pays the higher dividend yield.
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